NYC’s Housing Crisis Deepens: Evictions Spike as Renters’ Economic Struggles Continue
New York City renters are facing increasing pressures, highlighted by a striking near-200% surge in evictions. Two recent studies reveal that while landlords are managing well, their tenants are struggling significantly. Decrease in Wages and Increase in Payment Delays According to a study by the Rent Guidelines Board, there has been a notable 6.1% drop…
Pricing Patterns: A Glimpse into the High-End Real Estate of New York City
In the fiercely unpredictable real estate market of New York City, recent reports suggest a noticeable cooling, with the premium segment being no exception, as confirmed by a fresh publication from PropertyShark. For years, New York City has held the distinguished title of the most expensive real estate city in the United States. This bustling…
Why Buying a Home in New York City Is So Challenging
For anyone trying to buy a home in New York City, it quickly becomes clear that housing prices are extremely high. The city’s five boroughs—Manhattan, Brooklyn, Queens, the Bronx, and Staten Island—contain some of the most expensive neighborhoods in the United States. This high cost makes buying a home a significant challenge, especially in popular…
High Mortgage Rates Push Average Buyers Out of New York City
In recent times, the real estate market has observed a notable shift, particularly in Manhattan, where an unprecedented surge in cash transactions for home purchases has been recorded. This trend, accentuated by mortgage rates hovering around the 6 percent mark, showcases a significant barrier for prospective buyers without substantial financial backing. The last quarter of…
City Takes Over Bronx Building After Years of Landlord Neglect
For years, people living in the building at 2201-2205 Davidson Avenue in the Bronx have had to deal with broken elevators, leaking pipes, mold, rats, and even roaches. Some had to spend their own money to fix serious problems like holes in the walls or missing hot water. The building had more than 600 open…
Embracing the New York Dream: The Moving Journey
New York – a name that echoes through the dreams of many, a city of promise, ambition, and infinite possibilities. Moving to New York is not merely a change of address; it’s an adventurous transition into a life that many see as a pinnacle of the “American Dream.” This article dives into the intricacies of…
New York City Sees Another Rent Increase: Here is Why
NYC tenants see another rent increase. Typically, the beginning of the year is considered a slower period for the rental market as the year winds down and people focus on the holiday season. However, this November bucked the trend with an unexpected rise in both median rent levels and the number of new lease agreements…
Shocking New York Real Estate Facts and Changes
Facts about New York’s real estate are as diverse and dynamic as the city itself. From towering skyscrapers to historic brownstones, the landscape of New York’s property market offers a unique blend of history, luxury, and innovation. This article delves into the surprising, fun, and jaw-dropping aspects of New York’s real estate, setting it apart…
Unpaid Rent Leads to Deadly Confrontation in the Bronx (VIDEO)
Father dies for unpaid rent. In a tragic event that unfolded in the Bronx, a landlord was arrested after being accused of fatally assaulting one of his tenants. The incident, which occurred over a dispute regarding unpaid rent, happened in the tenant’s residence close to the Throgs Neck Expressway. Around 6 p.m. on a Saturday,…
Good Cause Eviction Laws Could Protect Brooklyn Tenants from Displacement
In Brooklyn’s Columbia Street Waterfront District, dozens of low-income tenants are fighting to keep their apartments affordable as looming changes threaten to raise rents beyond their reach. For many, the stakes couldn’t be higher—they risk losing homes they’ve lived in for decades. The Situation at 63 Tiffany Place The building at 63 Tiffany Place has…
Step-by-Step Guide to Applying for NYC’s Housing Lottery
Applications are now open for a housing lottery offering 75 rent-stabilized apartments in a newly completed building in Downtown Brooklyn. These apartments are available to households earning between $31,372 and $218,010 annually, depending on the number of people in the household. Monthly rents start as low as $750 for a studio apartment. The deadline to…
New York Real Estate: Surprising Facts You Might Not Know
New York, often dubbed “The Big Apple,” is renowned for its iconic skyline, rich history, and status as a cultural melting pot. When it comes to real estate, New York presents a myriad of opportunities, challenges, and unique characteristics. Here are some intriguing facts about New York real estate: Expensive Square Footage Manhattan, one of…